The National Hockey League is the premiere hockey league in the entire world. Players from all over North America and Europe go to different cities in the United States and Canada for a crack at the prestigious Stanley Cup.
Hockey is one of the most popular sports in North America. In the United States, it is the fourth most popular team sport after American Football, Baseball and Basketball. It is also one of the most high profile events at the quadrennial Winter Olympics. Hockey certainly has a huge following, so you definitely have a captive market should you choose to buy an NHL team.
Here’s how you can buy an NHL team:
- Check your finances. It goes without saying that buying an NHL team isn’t going to be a walk in the park! The franchises are really going to be expensive and it would take top dollar to buy it off the hands of the current owners. Have a good idea of how much money and assets you have that you can use to buy a team.
- Reach out to investors. Unless you’re immensely rich on the same level as the Maloof Brothers and Mark Cuban, you would need other people to pool their money with you so that you can afford to buy your NHL team. Present your idea to them when you already have a good grasp on how you want to approach the project.
- Select the city or the team that you want. The bigger the city, the bigger the market. So clearly, having a team like the Toronto Maple Leafs is a good idea since Toronto is the largest city in the hockey haven of Canada. Incidentally, the Maple Leafs is the most valuable team in the NHL right now at around $332M. Of course, the team owners will sell the team to make a profit so don’t treat that value as a price tag. The least valuable team in the league is the Washington Capitals at around $128 M.
- Set a meeting with the city officials and the current owners of the team. You can set this meeting in their office, the town hall or some good hotel or restaurant. Give them a good idea on why you want to buy the franchise. Show them that you can in fact take care if the business. Most team owners would only sell their teams to people who can really handle the job.
- Get the proper financing for the purchase. This is to ensure the city and the town that the sale is secure.
- Have the NHL approve the sale and the transfer of ownership. The NHL has to officially rule in your favour to make your ownership of the team official.
The NHL is a great league and having a team in it isn’t only just a good business project, it’s also quite a prestigious feat.